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would you give up the mortgage tax deduction for a lower tax rate? log on to gerriwillis.com, vote on the right hand side of the screen and all share the results of the end of tonight's show. coming up later, you will not want to miss this. joins us with his preview of tonight's debate and there will be a huge windfall for the government but a hit to your pocketbook. find out how much more un nearly every other american will be paying uncle sam if we drive over the fiscal cliff in january. nearly 1 billion people around the world don't have enough food to survive. we can't let this happen. there is something we can do about it. please join christina aguilera and yum! brands in the movement to fight world hunger by supporting the united nations world food programme. for more information, go to fromhungertohope.com. your contribution will feed children and save lives. together, we can stop the dying and start the living. and together, we can move people from hunger to hope. and together, we can move people why they're always there to talk. i love you,
would you give up the mortgage tax deduction for a lower tax rate? log on to gerriwillis.com, vote on the right hand side of the screen and all share the results of the end of tonight's show. coming up later, you will not want to miss this. joins us with his preview of tonight's debate and there will be a huge windfall for the government but a hit to your pocketbook. find out how much more un nearly every other american will be paying uncle sam if we drive over the fiscal cliff in january....
SFGTV2: San Francisco Government Television
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that is to move our payroll tax to gross receipt tax and why? because by doing that we can create jobs in san francisco and keep people in san francisco . the kids are growing up and we want them to stay but we need jobs. i agree with mr. crowley with the police force and make sure that is fully staffed and i have been speaking to the police athletic league and they have a program to breen the teenagers to be interns in the police force and they would feed into the police cadet program. thank you. >> thank you sir. the next question the city's liabilities are projected to increase in the next coming year. s what new or increased fees should it institute and i will repeat the question and we will begin with mr. crowley. >> i would say that one of the bigger things that we will have before us is the gross receipts tax check that norman talked about trading from the payroll tax which is punitive. the next thing i would do is increase the foot print on mos sony center and that brings in a lot of money to the general fund and erect a multi-purpose ar
that is to move our payroll tax to gross receipt tax and why? because by doing that we can create jobs in san francisco and keep people in san francisco . the kids are growing up and we want them to stay but we need jobs. i agree with mr. crowley with the police force and make sure that is fully staffed and i have been speaking to the police athletic league and they have a program to breen the teenagers to be interns in the police force and they would feed into the police cadet program. thank...
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tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map of where the tresh is, now you get this opinion letters from lawyer, if you follow one every one of these steps, you can get your treasure untaxed to the cayman islands. one of the things the times points out because of the way these were set up and the fees they were charged against them, the less taxes paid by those who were investing, the greater the sum available and therefore the higher the fees that romney collected. >> karen finney, romney, you get the sense the romney campaign expected that the tax return story was a story
tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map...
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if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get a good deal. neil: mitt romney got in trouble when he tried to clarify just that view. but i'm not going to lower taxes as much as you think, i'm going to get rid of a lot of deductions and he left himself open to critics who said wait a minute, you were tax cuts are worth the paper they are printed on. but the goal is to get to a simpler tax code that when you takout some of the extraneous write-offs and allowances, credits, etc., and that he will get it something that makes it a black-and-white case,. >> and there is a question which is why don't politicians wanted. you would assume that they
if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get...
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lowest corporate taxes or among the highest corporate taxes in america? >> i'm -- >> highest corporate taxes in america right now, right? >> highest corporate tax rate in the world right now. >> it's not that much higher than our competitors. in fact, it's lower than many competitors. stop talking about the rates. >> that's not true. >> we know it's mislead. it's effective tax burden on corporations, which is well in line with our european and asian competitors. >> isn't it true that small businesses, which of course as we all know are the real creators of jobs, will pay the ordinary income tax? if you're going to raise ordinary income tax on people making more than $200,000, that's going to hit small businesses and choke off that part of the job creation. >> that's right, maria. the top individual tax rate have a huge amount of small business income. if romney would cut the top individual rate from 35 to 25%, for example -- >> which would help small business. >> small businesses would be benefitted by that. >> bill, that's something john thain said, the
lowest corporate taxes or among the highest corporate taxes in america? >> i'm -- >> highest corporate taxes in america right now, right? >> highest corporate tax rate in the world right now. >> it's not that much higher than our competitors. in fact, it's lower than many competitors. stop talking about the rates. >> that's not true. >> we know it's mislead. it's effective tax burden on corporations, which is well in line with our european and asian...
SFGTV: San Francisco Government Television
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fees, timber tax, property tax, cigarette, alcohol, i believe there's over 20 taxes that are involved. in response, i believe finding number 3 was what we were asked to respond to and on september 10 or a letter dated september 10 was provided to the grand jury. i don't know if that is -- if you've gotten that or what. i mean, so what i will do is summarize that letter and explain what actions the board of equalization has done in regards specifically to the surcharge. sales tax applies to the sale of tangible personal property and the amount upon which that tax applies is the gross receipts under 6012 which is our reference, the gross receipts are anything that are charged so if you go into a liquor store and you buy some beer and it's 5 dollars, we want sales tax on five dollars, gross receipt ares also going be defined as any surcharges that are added and on a number of occasions, we do come across surcharges, for example, there may be a credit card surcharge, that is part of gross receipts and would be taxable, or in some cases, there is a fuel surcharge when the price of fuel bec
fees, timber tax, property tax, cigarette, alcohol, i believe there's over 20 taxes that are involved. in response, i believe finding number 3 was what we were asked to respond to and on september 10 or a letter dated september 10 was provided to the grand jury. i don't know if that is -- if you've gotten that or what. i mean, so what i will do is summarize that letter and explain what actions the board of equalization has done in regards specifically to the surcharge. sales tax applies to the...
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because they've got fancy attorneys that pay very little income tax let's suppose after all i'm with you and he would argue that the dependence on reliance is not a good thing we want to help people get off that he's not saying abandon those people and it's actually not saying that more people know he's not he doesn't want to abandon the thirty percent he's saying that seventy percent right now are for that they don't want the american private and i'd like to like i would have been less really really i think everybody wants to marry the american dream that anybody actually going to say i want to know i'm smart to get in i have to change that there right but here's the problem he's not explaining it there is this is sort of this is fair politics this is the old from that one movie i forget the title of it but this is the old thing that what you should be afraid of and who's to blame for it and what they're doing is they're saying you know these people aren't paying enough you're paying more this these aren't solutions any distraction at this point the election for romney any time he's
because they've got fancy attorneys that pay very little income tax let's suppose after all i'm with you and he would argue that the dependence on reliance is not a good thing we want to help people get off that he's not saying abandon those people and it's actually not saying that more people know he's not he doesn't want to abandon the thirty percent he's saying that seventy percent right now are for that they don't want the american private and i'd like to like i would have been less really...
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we've had -- the tax, the church tax, we had the [inaudible] tax, we the grammy tax, panic at the pump. we had dinner, we country surface with rebekah brookes. [laughter] [laughter] he said the text remember? lol. [laughter] now what do we have? the minister murdoch becoming the minister for the national whole service. we have an international development secretary. she says she doesn't believe in international development. [laughter] again, e with have a party chairman who writes books about how to beat the recession under a false name. [laughter] i'm not making it up. i'm really not making it up. i have to say, if i was chairman of the conservative party, i would have a false name too. there it is. [applause] but here's my farted one, of course, -- my favorite one of all. he made an appointment in order to resign but david cameron was too competent to know that he wanted to resign. he's still in the government. they are so useless, they can't even resign properly. it's up to us. let he say to you, one tbhaition it another way of avoiding the difficult decisions. it's a way of making
we've had -- the tax, the church tax, we had the [inaudible] tax, we the grammy tax, panic at the pump. we had dinner, we country surface with rebekah brookes. [laughter] [laughter] he said the text remember? lol. [laughter] now what do we have? the minister murdoch becoming the minister for the national whole service. we have an international development secretary. she says she doesn't believe in international development. [laughter] again, e with have a party chairman who writes books about...
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but not dictions sufficient to take the taxes up. we hope the middle class will have a tax reduction even with the elimination of deductions and putting a cap on deductions actually gives more credibility because you can give the middle class more deductions. the governor also said if you have more incomes, you pay lower caps, in other words $17,000. the idea that taxes on the well-to-do and the successful and those who are making a lot money will not go down. middle classing we hope they will stay where they are, or come down. coming down is a possibility. the important part of this tax plan, is to remember, when you earn, say you earn $200,000 and you have $20,000 worth of deductions, so now you paying tax on $180,000. if you paid tax at 35 percent rate, obviously the rate will be below $35 percent because you do not pay on full $200,000. governor romney is saying reduce that rate and every dollar you earn offer the amount that uses up the tax deductions, you will pay the lowest rate on. it will encourage people to earn more money,
but not dictions sufficient to take the taxes up. we hope the middle class will have a tax reduction even with the elimination of deductions and putting a cap on deductions actually gives more credibility because you can give the middle class more deductions. the governor also said if you have more incomes, you pay lower caps, in other words $17,000. the idea that taxes on the well-to-do and the successful and those who are making a lot money will not go down. middle classing we hope they will...
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but the cut in tax rates. >> the cut in tax rates is lower -- all american tax rates by 20%. >> how much does it cost? >> it's revenue neutral. it works and you can -- >> but i have to -- you haven't given me the math. >> well, i don't have the -- it would take me too long to go through all of the math. >> you know, tonight, jim lehrer, he's a great moderator. take all of the time you want. take my time to explain how you're going to do it. yesterday romney himself told a local denver station that part of his tax plan might include a cap on deductions at 17,000 a person which would not hurt billionaires at all like him. let's take a look. >> you could say everybody's going to get up to $17,000 deduction and you can use your charitable deduction, your home mortgage deduction or others, health care deduction and you can fill that bucket, if you will, the $17,000 bucket and higher income might have a lower number or you could do it by the same method that bowles/simpson did it, which is limiting certain deductions but that's the sort of thing that -- >> well, his tighing would take him past
but the cut in tax rates. >> the cut in tax rates is lower -- all american tax rates by 20%. >> how much does it cost? >> it's revenue neutral. it works and you can -- >> but i have to -- you haven't given me the math. >> well, i don't have the -- it would take me too long to go through all of the math. >> you know, tonight, jim lehrer, he's a great moderator. take all of the time you want. take my time to explain how you're going to do it. yesterday romney...
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what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a math problem. they can't pay for it. if they can't pay for it, then they are going to raise taxes on the middle class. that's what the economic studies have shown. and look, i don't know anybody who thinks we're another tax cut for a millionaire away from a stronger middle class. that's just not how we have built our economy before and it's not how we're going to continue to make our country on the debate moderator to do itill ?e present be >> ihink the debate morato think the president will push back pticularly on some of thes
what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a...
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i'm editor of the tax blog, tax blocks, and we're here to discuss taxes and the fiscal cliff. washington lives in sue perlatives. everything that happens here is the biggest, the worst, or the most important. how many times, for instance, have you been told that some politician is about to give the speech of his life until he gives the next speech? the taxmeggedon has the potential to be a watershed in fiscal policy. it's true. it could be another way to kick the can down the road, but it could be a tipping point to end a decade of fiscal gridlock. yesterday, the tax policy center released a new study on the cliff, and we'll talk in details, but to summarize, it found tax increases due to occur at the end of 2012, if they last for all of 2013, would raise taxes by $500 billion. the average household would pay $3500 more if this year's rules are in place. cbo says these tax hikes and hundredings of billions of dollars in discretionary spending cuts drives the economy back in recession and cost 2 million jobs. on the other hand, it also goes a long way in reducing the budget def
i'm editor of the tax blog, tax blocks, and we're here to discuss taxes and the fiscal cliff. washington lives in sue perlatives. everything that happens here is the biggest, the worst, or the most important. how many times, for instance, have you been told that some politician is about to give the speech of his life until he gives the next speech? the taxmeggedon has the potential to be a watershed in fiscal policy. it's true. it could be another way to kick the can down the road, but it could...
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we'll get to the deductions but the cut in tax rates. >> the cut in tax rates is lower all americans tax rates by 20%. >> how much does that cost? >> it's revenue lowering. you can -- >> i have to -- you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> yesterday mitt romney finally gave in, sort of. he didn't detail the deductions he intends to eliminate, but at least offered a few suggestions. >> you could say everybody is going to get up to a $17,000 deduction and use your charitable deduction or your home mortgage deduction or others, health care deduction and fill that bucket, the $17,000 bucket that way and higher income people might have a lower number or do it by the same method that bowles-simpson did it, limiting certain deductions, that's the sort of thing you do with congress. >> so there you go. that's the sort of thing he's talking about. romney's campaign emphasized after the interview those ideas are actually not part of his plan writing -- mark halperin, as you know, i'm an easily confused person
we'll get to the deductions but the cut in tax rates. >> the cut in tax rates is lower all americans tax rates by 20%. >> how much does that cost? >> it's revenue lowering. you can -- >> i have to -- you haven't given me the math. >> well, i don't have the time -- it would take me too long to go through all of the math. >> yesterday mitt romney finally gave in, sort of. he didn't detail the deductions he intends to eliminate, but at least offered a few...
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last four years -- how in lord's name, can they justify raiding their taxes with these tax cuts? >> vice-president biden just today said that the middle class, over the last four years has been, quote, buried. we agree. that means we need to stop digging, by electing mitt romney the next president of the united states. [cheers and applause] of course, the middle clationz class has been buried, they are buried by regulations and buried by taxes and borrowing, they are being buried by the obama administration's economic failures. >> greta: so will the obama campaign take a political hit with that one, mr. speaker? it's dangerous to talk these days? >> look, it's pretty hard to take anything joe biden says seriously. but if you look at it from -- there are two parts to t. he admits that in the last four years, that's the obama years, the middle class has been buried. highest price of gasoline in the history. hits the middle class. the unemployment rate hits the middle class. the debt being piled up, hits the middle class. but then he goes on to say something which is frankly nutty.
last four years -- how in lord's name, can they justify raiding their taxes with these tax cuts? >> vice-president biden just today said that the middle class, over the last four years has been, quote, buried. we agree. that means we need to stop digging, by electing mitt romney the next president of the united states. [cheers and applause] of course, the middle clationz class has been buried, they are buried by regulations and buried by taxes and borrowing, they are being buried by the...
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he pays 13% in taxes. he says the most important thing is to cut the tax rates at the top for the. it is mind-boggling that we have this kind of blatant candidacy. people are hurting, people are upset. that is why this weirdness even has a choice. but it would take as exactly in the wrong direction. president obama could have done more and would have done more if the republican opposition had not blocked the end of the bush era tax cuts for the rich, for example. so romney is in quite a position to be blaming president obama for that when it is exactly this side that has made the kind of recovery we need so fleeting and evanescent. we need a strong recovery, but the policies he is recommending would be the opposite of what would get us there. tavis: on the domestic front, he is hitting president obama offer not overseeing a more pronounced recovered. on the foreign-policy front, he is hitting him on a lack of resolve. i go to the second paragraph that i read, making the republican argument that this president lacks a result. when you do that, it invites all kinds of activity around
he pays 13% in taxes. he says the most important thing is to cut the tax rates at the top for the. it is mind-boggling that we have this kind of blatant candidacy. people are hurting, people are upset. that is why this weirdness even has a choice. but it would take as exactly in the wrong direction. president obama could have done more and would have done more if the republican opposition had not blocked the end of the bush era tax cuts for the rich, for example. so romney is in quite a...
SFGTV2: San Francisco Government Television
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and why are they not -- twitter got a tax break, a payroll tax break, but it was a lot more than that the public didn't hear about. we pay for a muni bus that is dedicated directly and only to where interstate twitter is located. they can afford to pay for a muni bus. they are also getting a police station, their own police substation. >> thank you, miss olague. >> it's easy to talk about the waste in upper management, but i think what we need is the political will to challenge that waste. and i think we have to look at it through the budget process. so i think it's very important during the budget process -- i wasn't on the budget committee this last year, but i do hope to sit on the budget committee in the next year. and i think that we need to make some of the hard political decisions and that is why i think a lot of waste does continue on the upper level because no one is willing to really take a hard look and make those very difficult decisions. i think that sometimes when you look at programs, i think some of the information that hope johnson mentioned about the sunshine task fo
and why are they not -- twitter got a tax break, a payroll tax break, but it was a lot more than that the public didn't hear about. we pay for a muni bus that is dedicated directly and only to where interstate twitter is located. they can afford to pay for a muni bus. they are also getting a police station, their own police substation. >> thank you, miss olague. >> it's easy to talk about the waste in upper management, but i think what we need is the political will to challenge that...
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the fact these bums don't want to pay tax and the richest guy in the world is avoiding tax. >> bill clinton has the best peripheral vision in the history of politics. he knows how to do it. clinton uses a sense of humor to do it, to make the other guy seem like a complete hypocritical phoney. rather than say the guy is a hypocritical phoney, bill clinton builds the occasion like he's talking to the jury. that's what he did there. that's the obstacle that mitt romney has. the way people view mitt romney, in the nbc poll, they still basically have a negative view of the guy. he has to come out there and say, i know how to fix the economy on your behalf, even though people know his whole life has been dedicated to flipping corporates and doing the magic that he did that got him the caymen offshore account. and $100 million i.r.a., individual retirement account. >> he has to show -- >> how does a guy -- >> how does that help us? >> -- have a $100 million individual retirement account? >> one thing president clinton has done so successfully, he's not against wealth. he's just against hypocrisy,
the fact these bums don't want to pay tax and the richest guy in the world is avoiding tax. >> bill clinton has the best peripheral vision in the history of politics. he knows how to do it. clinton uses a sense of humor to do it, to make the other guy seem like a complete hypocritical phoney. rather than say the guy is a hypocritical phoney, bill clinton builds the occasion like he's talking to the jury. that's what he did there. that's the obstacle that mitt romney has. the way people...
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they're trying to draw attention to a 1954 tax code that prohibits tax-exempt organizations like churches from engaging in political endorsements a group known as the i ay lines defending freedom is now challenging the code claiming it violates preacher's right for free speech. >> they've marched october 7 as pulpit freedom sunday. >> yes, pulpit freedom sunday. when the thrill of lengthy sermons finally meets the excitement of tax policy. pulpit freedom sunday is the boldest theological movement since casual good friday. this sunday, october 7 pastors around the united states will violate the law by directly endorsing one of the candidates. it doesn't matter which, either romney or not-obama. (laughter) and to try to force this issue into court the sermons will be recorded and sent to the i.r.s. folks, i like this new rebel attitude from the pulpit. maybe someday we'll turn on fox news and see a high-speed popemobile chase. (laughter) pastor jim garlow, one of the leaders behind freedom sunday says it's all about principle. >> we believe there should be no governmental intrusion in the p
they're trying to draw attention to a 1954 tax code that prohibits tax-exempt organizations like churches from engaging in political endorsements a group known as the i ay lines defending freedom is now challenging the code claiming it violates preacher's right for free speech. >> they've marched october 7 as pulpit freedom sunday. >> yes, pulpit freedom sunday. when the thrill of lengthy sermons finally meets the excitement of tax policy. pulpit freedom sunday is the boldest...
SFGTV2: San Francisco Government Television
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you know i think that the gross revenue tax is a progressive tax and that tax would allow new businesses, small businesses able to flourish so we have something to look forward to with that. that being said treasure island seems to me a car dependent project and unless you have a ferry that is going there and dropping you off, but that would be somewhat time consuming. the same is true with hunter's point and the problem is there isn't a lot of transportation near there. the trances bay terminal next to bart, next to cal train this is a great project and has so much commuter friendly things going on there, and as far as i am concerned when it comes to development in san francisco it's got to stop. >> all right. thank you sir. >> there are three parts of the economy, the consumer, the investment and the government. the only reason thing that has grown on a rapid rate is the government. the government gets their revenues through taxation or borrowing money. the problem is the regulations are hurting small businesses. 2/3 of all jobs are created by small business which are considered -- cha
you know i think that the gross revenue tax is a progressive tax and that tax would allow new businesses, small businesses able to flourish so we have something to look forward to with that. that being said treasure island seems to me a car dependent project and unless you have a ferry that is going there and dropping you off, but that would be somewhat time consuming. the same is true with hunter's point and the problem is there isn't a lot of transportation near there. the trances bay...
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would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never given any plan to reduce the national debt. anything you even described. talk about the deficit, our current budget, but you never say how you will eliminate $16 billion of the national debt. even tom coburn, one of your heroes, from oklahoma, says we have to raise revenue. we have to cut spending. we have to balance our budget. that is not liberal, that is not conservative, it is just the truth. >> i will make a point that in that entire answer, mr. sadler did not disagree with me once that there is not a single texan who currently pays income tax that he is willing to rule out raising taxes on. i've asked to three times that question, and you have yet to give an answer. >> hold on, what about the question of revenue? he
would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never given any plan to reduce the national debt. anything you even described. talk about the deficit, our current budget, but you never say how you will eliminate $16...
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is going to increase taxes across the board of the biggest tax increase in history on january 1st. and mitt romney understands that you have to have small business to grow these jobs. and that's the way we're going to invest in small businesses. take the job-killing obamacare regulations that will crush small businesses, but then give -- replace it with good policies that allow businesses to buy health insurance with what they need, buy it across state lines, have preexisting conditions covered. but the kind of policies that they won't be bankrupt and fined. and 20 million people are expected by this -- by the administration's own calculations, 20 million people -- i guess it was cbo said it would lose their coverage under obama care and that's not going to work for my state of virginia. >> i have to say, i hope he has your ability to go without taking a breath and have things that make sense. jim, let me ask, barbara talked about mitt romney wants to talk about his tax plan. i'm sure that the president wants to talk about mitt romney's tax plan too. specifically that promise to cu
is going to increase taxes across the board of the biggest tax increase in history on january 1st. and mitt romney understands that you have to have small business to grow these jobs. and that's the way we're going to invest in small businesses. take the job-killing obamacare regulations that will crush small businesses, but then give -- replace it with good policies that allow businesses to buy health insurance with what they need, buy it across state lines, have preexisting conditions...
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prohibited from taxing residents. new-ill would provide all to give back 4% of their salary. >> those dollars within our city. if you go to ask the workers, it "if you live in d.c.?" >> i live in maryland. i have been in maryland all of my life. of the city's 31,000 58% do not live in the city. one worker moved to maryland h his new wife. i was born in d.c. >> he was not at the hearing and those that were read council the riot act. >> we, of course, want to hear the public. do not affect our ability to people and retain them. >> in northwest washington, sam ford, abc 7 news. as it could as good be. and feeling more like summer around here. afteras more, coming up the break. and another showdown this weekend. one for the record book. [ mamale announcer ] we the people, the middle class, who move our country forward, work hard, raise families, and keep america strong. but mitt romney's budget plan will hurt the middle class, raising taxes on the average family by up t to $2,000, while giving a tax break of $250,000 to m
prohibited from taxing residents. new-ill would provide all to give back 4% of their salary. >> those dollars within our city. if you go to ask the workers, it "if you live in d.c.?" >> i live in maryland. i have been in maryland all of my life. of the city's 31,000 58% do not live in the city. one worker moved to maryland h his new wife. i was born in d.c. >> he was not at the hearing and those that were read council the riot act. >> we, of course, want to...
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biden accused romney of planning to raids taxes on the middle class to pay for tax cuts on the wealthy. >> how they can justify raising taxes on the middle class that's been buried the last four years, how in lord's name can they justify raises the taxes. >> republicans pounced, calling biden's remarks that the middle class has been buried for four years a stunning admission. the obama campaign called that a desperate and out of context attack. the vice president shrugged off his tendency to shoot from the lip. >> no one has ever doubted i mean what i say. the problem si sometimes say all that i mean. >> reporter: in august republicans and some democrats were outraged when biden make that reference to an audience of african-america african-americans. >> he's going to let the big banks write their own rules. unchain wall street. they're going to put y'all back in chains. >> reporter: there was a time in may when biden forced the president's hand on the gay marriage issue. going on "meet the press" and endorsing same-sex unions before the president's announcement. >> i am absolutely comf
biden accused romney of planning to raids taxes on the middle class to pay for tax cuts on the wealthy. >> how they can justify raising taxes on the middle class that's been buried the last four years, how in lord's name can they justify raises the taxes. >> republicans pounced, calling biden's remarks that the middle class has been buried for four years a stunning admission. the obama campaign called that a desperate and out of context attack. the vice president shrugged off his...
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this is a choice between tax cuts and tax hikes. you need to make that case. now i want to hear from our panelists in the kudlow caucus. former clinton white house aide, keith boykin. rick lazio, former republican congressman from new york. rick lazio, i begin with you, good evening to you. >> hello, larry. >> this is a gigantic audience, the key issue of our time is still the economy and jobs. so far mitt romney has not been able to make the sale. that's what the polls show. that's why this thing is close. why hasn't he and what's he going to do tonight differently than he's done in the past. >> i think he's going to make the contrast with president obama, why expanding the pie is in the national interest. not redistributing an ever slowing economy but expanding the pie so everybody gets a job that wants a job, people's salaries are rising. i think he needs to lay out the picture, paint the picture for the audience, frankly, larry, of what america would look like after four years of pro-growth policies. more kid graduating and getting jobs that they were trai
this is a choice between tax cuts and tax hikes. you need to make that case. now i want to hear from our panelists in the kudlow caucus. former clinton white house aide, keith boykin. rick lazio, former republican congressman from new york. rick lazio, i begin with you, good evening to you. >> hello, larry. >> this is a gigantic audience, the key issue of our time is still the economy and jobs. so far mitt romney has not been able to make the sale. that's what the polls show. that's...
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david: president obama almost certain to characterize mitt romney's tax plans tonight as tax cuts for the rich, or awe kise him of advocating trickle-down economics as he has done before but is that a fair characterization. where did it come from? famed economist thomas sowell has been looking into all this. he wrote an essay, trickle down theory and tax cuts for the rich published by hoover institution press and professor sowell joins us now. professor, always an honor to have you here. thanks for coming in. >> thanks for having me. david: so has any republican actually ever advocated something called trickle-down economics? >> neither a republican nor a democrat, nor member of any other group, nor any human being that i know of ever advocated that. david: so where does it come from? >> it comes from people who are opposed to tax cuts and who say that the people who want the tax cuts just want to give more money to the rich and in hopes their prosperity will trickle down. no one has ever said that. years ago in my column i challenged anyone to name any human being who had ever said i
david: president obama almost certain to characterize mitt romney's tax plans tonight as tax cuts for the rich, or awe kise him of advocating trickle-down economics as he has done before but is that a fair characterization. where did it come from? famed economist thomas sowell has been looking into all this. he wrote an essay, trickle down theory and tax cuts for the rich published by hoover institution press and professor sowell joins us now. professor, always an honor to have you here. thanks...
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how in lord's name can they justify raising taxes with these tax cuts? >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's economic failures. >> reporter: romney campaign put together a conference call to draw attention, more focus to the comments by the vice president. the obama campaign pushed back saying this was just another act of desperation and what the vice president was talking about were -- were situations or a climate that was put in place by the failed policies of the former administration. i'll tell you what, at the very next event during his remarkings, the vice president did touch on the same subject but left out the word buried. soledad? >> walk us through the logistics of toni
how in lord's name can they justify raising taxes with these tax cuts? >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's...
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tax cuts. does he have to get specific? >> i think lara will ask that. >> he's got to do well. he's got to show well in this. i don't think ratcheting up expectation is good. i think what you want to do if you're getting ready for the debate is ratchet down expectation. i think he'll do fine. he needs to have a knockout. it doesn't need to be a decision. it needs to be a ko. >> how much of this debate is going to be about the economy and jobs and taxes tonight as opposed to education, health care, social issues, what have you? >> well, all those things matter, certainly when it comes to education, that's the future. i mean, the future generations will be -- will fail, rise, or fall based on education, so that's a very important building block for the country going forward. >> is that a building block for romney's campaign? >> it is. it's something he's talked about. he has an idea for americans and education that's very different from what president obama has been able to do. president obama wo
tax cuts. does he have to get specific? >> i think lara will ask that. >> he's got to do well. he's got to show well in this. i don't think ratcheting up expectation is good. i think what you want to do if you're getting ready for the debate is ratchet down expectation. i think he'll do fine. he needs to have a knockout. it doesn't need to be a decision. it needs to be a ko. >> how much of this debate is going to be about the economy and jobs and taxes tonight as opposed to...
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would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never given any plan to reduce the national debt. anything you even described. talk about the deficit, our current budget, but you never say how you will eliminate $16 billion of the national debt. even tom coburn, one of your heroes, from oklahoma, says we have to raise revenue. we have to cut spending. we have to balance our budget. that is not liberal, that is not conservative, it is just the truth. >> i will make a point that in that entire answer, mr. sadler did not disagree with me once that there is not a single texan who currently pays income tax that he is willing to rule out raising taxes on. i've asked to three times that question, and you have yet to give an answer. >> hold on, what about the question of revenue? he
would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never given any plan to reduce the national debt. anything you even described. talk about the deficit, our current budget, but you never say how you will eliminate $16...
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taxes and cut everyone's income tax by 20%. the math doesn't seem to add up there. the other striking thing being he picked paul ryan, the man known for putting out -- at least more details than mitt romney, but he has not embraced. ryanism to me, at least, the core is we're going to be detailed about what conservative policy means. romney's not embraced that at all. >> good luck tonight. thank you both. new next, tick tock, tick tock. let's clear the air from a mile up. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with
taxes and cut everyone's income tax by 20%. the math doesn't seem to add up there. the other striking thing being he picked paul ryan, the man known for putting out -- at least more details than mitt romney, but he has not embraced. ryanism to me, at least, the core is we're going to be detailed about what conservative policy means. romney's not embraced that at all. >> good luck tonight. thank you both. new next, tick tock, tick tock. let's clear the air from a mile up. look, if you have...